Tuesday, January 19, 2021
Home Finance Hungarian and Romanian household gas prices are the lowest in the EU

Hungarian and Romanian household gas prices are the lowest in the EU

According to the EU statistics office, Eurostat household gas prices in the EU 27 Member States averaged around 7.2 euros per 100-kilowatt hour (kWh) between the second semester of 2018 and 2019.

Average household gas prices in the second half of 2019 were below 6 euros per 100 kWh in all CEE countries, while Hungary and Romania reported the lowest prices (both 3.3 euros per 100 kWh).

Source: Eurostat

Based on the data provided by Eurostat, household gas prices increased by 1.7 per cent on average in the EU. Among the Central Eastern European countries, Croatia experiences significant growth in gas prices (+12.9 per cent), while the biggest drop was experienced in Latvia (-22 per cent).

However, if we consider the prices adjusted for purchasing power, it can be seen that, relative to the cost of other goods and services, the lowest household gas price was recorded in Luxembourg (3.4 PPS per 100 kWh) and the highest prices were observed in Spain (11.2).

In Central Eastern Europe household gas prices adjusted for purchasing power remained low in Latvia (5.0 PPS per 100 kWh) as well as Hungary (5.6) and Estonia (5.8). In contrast one of the highest prices were observed in Bulgaria (9.0).

Eurostat reported on household electricity prices as well that increased to 21.6 euros per 100 kWh in the second half of 2019. Expressed in euro, average household electricity prices were the lowest in Bulgaria (9.6 euros per 100 kWh), Hungary (11.0 euros) and Lithuania (12.5 euros).

Source: Eurostat

Electricity prices increased by 1.3 per cent with the highest price surge reported in Lithuania (14.3 per cent), Czechia (11.0 per cent) and Romania (10.1 per cent). Meanwhile, prices dropped by 5.8 per cent in Greece and 4.7 per cent in Bulgaria.

Eurostat notes that taxes and levies in the EU made up 41 per cent of the electricity price and 31 per cent of the gas price paid by households.

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